Thursday, January 29, 2009

AdMob Raises $12.5 M in Series C Extension Round

AdMob announced that it has secured additional $12.5 M in a Series C extension round of funding. The money came from Draper Fisher Jurvetson’s (DFJ) Growth Fund and Northgate Capital. This $12.5 M brings AdMob's Series C funding to $28.2 M and total funding to $47.2 M.

As previously announced, the Series C funding will be used to:
  • Accelerate the growth of worldwide operations by hiring local staff in key markets and adding new language interfaces, with an emphasis in Western Europe, India, South Africa, and Japan
  • Deepen the investment in the company’s mobile technology platform, including its targeting, optimization, and ad serving algorithm
  • Expand the breadth of offerings for both publishers and advertisers
  • Increase the leadership position in the U.S. by growing AdMob’s sales and business development teams
AdMob Stats:
  • Total Capital Raised: $47.2 M
  • Ads Impressions Served: 60 B
  • Websites in Network: 6,000